QMB 3200 Final Exam Study Guide |Verified Questions with Correct Answers Graded A+

QMB 3200 Final Exam Study Guide |Verified Questions with Correct Answers Graded A+ Excel's ______ function can be used to compute the sample standard deviation STDEV.S The mean of the sample is computed by summing all the data values and dividing the sum by the number of items symbol that represents the size of population N The variance of a sample or population cannot be Negative Symbol representing the size of sample n symbol representing standard deviation of a population σ symbol representing variance of a population σ 2 symbol representing mean of a population μ symbol representing mean of a sample x̄ The measure of central location most often reported for annual income and property value data is the median correlation coefficient ranges from? -1 to +1 Excel's _____ function can be used to compute the sample variance. VAR.S variance is equal to squared value of the standard deviation Excel's _____ function can be used to compute the mean. AVERAGE If the variance of a data set is correctly computed with the formula using n − 1 in the denominator, which of the following is true? a. The data set is a population. b. The data set is a sample. c. The data set could be either a sample or a population. d. The data set is from a census. b. The data set is a sample. Standard error of the mean decreases as sample size increases standard error of the mean value is influenced by the standard deviation of the population Standard error of the mean... measures the variability in the sample means the probability distribution of all possible values of the sample means called the sampling distribution of the sample mean The value of the sample statistic is used to estimate the value of the population parameter The standard deviation of a point estimate is the standard error The standard deviation of x̄ is referred to as the standard error of the mean The finite correction factor should be used in the computation σx̄ and σȳ when n/N is greater than .05 The standard deviation of p̄ is referred to as the standard error of the population a numerical measure from a population such as a population mean is called a parameter as the sample size increases the standard error of the mean decreases an interval estimate is used to estimate a population parameter The probability that the interval estimation procedure will generate an interval that contains the actual value of the population parameter being estimated is the confidence coefficient The use of the normal probability distribution as an approximation of the sampling distribution of p̄ is based on the condition that both np and n(1 - p) equal or exceed 5 We can reduce the margin of error in an interval estimate of p by doing any of the following EXCEPT a. using a planning value p* closer to .5 b. increasing the sample size c. increasing the level of significance d. reducing the confidence coefficient a. using a planning value p* closer to .5 The mean of the t distribution is 0 As the sample size increases, the margin of error decreases If an interval estimate is said to be constructed at the 90% confidence level, the confidence coefficient would be .9 As the degrees of freedom increase, the t distribution approaches the _____ distribution. normal Which of the following hypotheses is not a valid null hypothesis? a. H0: μ ≥ 0 b. H0: μ ≤ 0 c. H0: μ < 0 d. H0: μ = 0 c. H0: μ < 0 If a hypothesis is rejected at a 5% level of significance, it may be rejected or not rejected at the 1% level